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The Advisory Board Company Reports Fiscal Year 2009 Second Quarter Results
Date:11/5/2008

ded, "I am also pleased to announce our latest launch, the Patient Registration Performance Program. This program provides a comprehensive toolkit to assist health systems in improving their front-end revenue cycle performance through the proactive management of the patient registration process. Through best practice research, performance benchmarking data, and a robust, web-based analytical tool, the program assists members in creating an infrastructure to hardwire accountability for this critical point of the revenue cycle process. The membership allows the participating institutions to achieve measurable financial gains through enhanced cash acceleration and staff efficiency, as well as reduced avoidable denials, which vastly improve overall collections performance. We have already established a strong charter membership for the program, including Tri-City Medical Center, Cheyenne Regional Medical Center, Munroe Regional Medical Center, and West Jefferson Medical Center. The program is off to a good start, and we are very excited about its potential."

Share Repurchase

During the three months ended September 30, 2008, the Company repurchased 1,086,517 shares of its common stock at a total cost of approximately $34.5 million. To date, the Company has repurchased 6,400,445 shares of its common stock at a total cost of approximately $285.9 million.

Outlook for the Remainder of Calendar Year 2008

For the quarter ending December 31, 2008, the Company expects revenue in a range of approximately $59.2 million to $60.0 million, and earnings per diluted share in a range of approximately $0.36 to $0.39. Included in the earnings per diluted share estimates is approximately $0.14 to $0.15 of share-based compensation and related expense for the three months ending December 31, 2008.

Web and Conference Call Information

The Company will hold an investor conference call to discuss its second quarter performance this evening, November 5, 2
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SOURCE The Advisory Board Company
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